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Yesterday in Parliament

Yesterday in Parliament

Yesterday in Parliament

BBC

News

3.910 Ratings

🗓️ 4 March 2026

⏱️ 5 minutes

🧾️ Download transcript

Summary

The Chancellor's Spring Statement.

Transcript

Click on a timestamp to play from that location

0:00.0

Hello, I'm Sean Curran and this is yesterday in Parliament from BBC Radio 4.

0:11.3

There was no red box outside Downing Street and no pre-statement leaks, but there was plenty of sound and fury when Rachel Reeves updated MPs on the state of the UK's finances

0:24.0

on Tuesday the 3rd of March. It was like Prime Minister's questions had come a day early.

0:32.6

There were loud cheers from the government benches when the Prime Minister and the Chancellor arrived in the Commons together.

0:38.8

But this moment belonged to Rachel Reeves, and it was noisy and rowdy right from the start.

0:45.4

Mr Speaker, this government has the right economic plan for our country.

0:51.1

A plan...

0:53.3

A plan? A plan, a plan that is...

0:59.2

Order, order, sorry.

1:02.3

Look, both sides. If you're not interested, please, you don't have to stay in the chamber.

1:06.1

Over the next 23 minutes, Rachel Reeves repeatedly used the word stability as she updated

1:12.5

the Commons on the state of the economy, based on official forecasts prepared by the Office

1:17.5

for Budget Responsibility. In the past, these occasions have seen chancellors produce an

1:22.9

economic rabbit from a metaphorical top hat, But there were no policy announcements this time.

1:29.2

The big surprise, the US-Israeli war on Iran,

1:33.1

had come at the weekend after the latest forecast had been prepared.

1:37.2

A plan that is even more important in a world that in the last few days

1:42.0

has become yet more uncertain.

1:47.4

With unfolding conflict in Iran and the Middle East, it is incumbent on me and on this government to charter course through that

1:53.4

uncertainty, to secure our economy against shocks and protect families from the turbulence that we

2:00.7

see beyond our borders. To Labour

2:03.8

cheers, she argued that the latest forecasts showed her plan was working. Inflation is down.

...

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